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John is a student who wants to live on his own and earn a bit rather than being a burden to his parents. He has signed up with Uber as a driver. He loves exploring different cars but how can he buy a new car every now and then! Recently, he heard about the Fair app to make his life easier and now he can have any car without the compulsion of keeping the same for a long period of time.

The Fair app offers an innovative alternative to what we used to call traditional car ownership. The app lets you buy, get approved and pay for your next car right through a few taps on your mobile screen.

If you are an entrepreneur thinking about some out of the box idea for your startup to bring a rumble in the market, going for a Fair clone app could be an excellent choice for your venture. The app is a great way to provide the drivers with choices to own their cars and keep them as long as they can instead of leasing.

» The motive behind Fair app

The technology is transforming with each passing day. We are even changing the ways of how we buy and own our cars. The industries are looking for ways to make the customer winner in the end with simpler, more flexible, and more cost-effective options than ever before. Fair is a Californian startup that is trying to turn the car market on its head by offering pocket-friendly, simpler alternatives for the people to lease vehicles instead of buying them. They are even successful in taking huge steps towards achieving the goal.

Scott Painter is the founder and CEO of the Fair app. Fair is basically a vehicle subscription startup that is loading its executive team with veterans in the tech. They are venturing the automotive industries as they endeavor to build out its Uber leasing program and expand beyond North America.

The Fair app is supported by Softbank. The company has recently announced three key hires to lead the development of its car subscription app. They are also hiring the financing department and the leasing program with Uber.

As per a report in Tech Crunch, Jay Trinidad who was previously an executive in Google and Discovery Networks is now working with the company as the chief product officer. He is expected to direct the company’s app development and technology efforts. John Pierantoni, the chief accounting officer of TrueCar has been hired to look after the finance and risk management. Pat Wilkison who is a partner of the venture and exponential partners is an early investor in the company. He will be the one looking after the Uber program.

It is being said that these three hires are really crucial for the startup. The startup is trying to convince the customers to try its car-as-a-service platform over buying or leasing a vehicle from a traditional dealership or other online sales upstarts.

» Fair’s revenue-raising business model

 
The company has generated $1.5 billion. But apart from that, the platform itself is what makes it unique for the company.

The company has tweaked the traditional lease to provide its customers with more choices. They claim that the customers today including those in the gig economy wish for flexibility. The users can easily subscribe to the program and explore different vehicles through their term of the lease.

The business model is a capital-accelerated business model. This kind of business model requires experience that needs to be delivered by very experienced people.

The startup has raised an immense revenue of $385 million in its Series B funding round led by Softbank.

Fair provides flexible leasing plans both to everyday users and to people who use cars for work purposes. The only things that people need to have these vehicles a driver’s license and a credit card or bank details.

The company has been working with Uber closely and earned its $400 million leasing business last year. It hopes to repeat the success with other transportation companies and ride-sharing platforms as well.

They are currently active in more than 15 states and more than 26 markets in the US. The progress is thus that they are adding a new city every week. The growth for Fair has been dynamic over the years. They have been leasing cars to more than 20,000 users until now.

How Fair Works : Work process of Fair

 
Fair’s platform has something in common with other financial services that have germinated over the years. It is nothing else but big data analytics and intelligent algorithms. The company aims to enhance the process of converting a slightly curious customer into a bonafide transaction by decreasing as much resistance in the process as possible.

Fair is able to build up a financial profile of the user in the backend using their two-piece documentation. They can then easily determine whether the person is eligible to rent.

The users subscribing to cars can use the plans starting at $130. They can even cancel the plans with five days’ notice.

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Why should you build a Fair clone app?

 
For a long-term plan by SoftBank, they wish to use Fair to help the ride-sharing businesses to move upwards. This can be done by helping connect more drivers with vehicles. Fair has already provided a quick way for the would-be Uber drivers to get their vehicles.

The Fair clone apps can help to unlock ridesharing on a global scale. The apps like Fair have the ability to turn around the leasing businesses for the ride-sharing companies and thus such companies become an asset adding tremendous value to the business.

There are other cars-for-rentals coming up in the market like Airbnb Car rentals, Zoom car etc. But the Fair clone app is basically not just a car rental app, but the business can see growth along with the ride-sharing companies as well. This is a huge opportunity for startups to put their best technological feet forward with Coruscate as a technology partner and then tie-up with the ride-hailing services in your regions to make the best of what the market has to offer.

Our developers and researchers are experts in the big data concept and we can build an app for your car rental business which can really make you the jewel in the crown. With the increasing competition, you will also need help to choose the ride-sharing companies to work together. We might just be helpful in discussing the most profitable business model and partners for you. In our hands, it is a promise that your business will definitely flourish. Connect with us for further discussion regarding the cost and features of the driver-partner app or schedule a free consultation session for the same.